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| Archibald Motley (1891-1981) is an American painter identified with the Harlem Renaissance and probably best known for his depictions of black social life and jazz culture in vibrant city scenes. He is one of the featured artists at the MET Museum's magnificent new exhibit HARLEM RENAISSANCE! To me, he captures the essence of what New York City life is: colorful and wild, in constant motion, its exuberant inhabitants dancing into the endless horizon..... The biggest fiscal stimulus of all time is in full swing - the great transfer of $70 trillion-plus in generational wealth - and is being seen all over our markets as LUXE-flation has made the wealthier even wealthier in the past few months. Yes, New York City is extremely expensive, but it has an astounding volume of wealth and higher incomes. While general inflation comes down, prices for the rich keep rising as demand keeps growing...... January’s US personal consumption expenditures report released yesterday matched economist expectations: Headline PCE came in at 0.3% month over month, 2.4% on an annualized basis. The 10-year Treasury yield fell 3 basis points to 4.244%. Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday, but both the headline and core figures were higher than expected. Core inflation, stripping out volatile components of energy, food, alcohol and tobacco, was 3.1%, above the 2.9% expected. Core inflation is holding above 3% even as the headline rate moves toward the ECB’s 2% target. (CNBC) New York's politicians' well-meaning but uninformed attempts to keep rents down have failed for most, although there are a large number of rent-regulated apartments. In 2019 new laws made it much more difficult to convert regulated apartments to market rate, and now this policy is proving to be very damaging: landlords have removed rent-regulated apartments from the market and are leaving them vacant rather than spend on maintenance and improvements that they can’t recoup. Tighter supply has pushed up rents in the non-regulated market, a contributing reason Manhattan’s average market-rate monthly rent has surged 30% over the last 2 years, well beyond inflation. De-valued buildings reduce real estate collections that impact everyone and causes others to have to pay more to compensate for these losses. Now, regional banks exposed to these loans are at risk too, also impacting everyone else negatively. (WSJ) The consumer price index, a key inflation gauge, rose 3.1% in January 2024 relative to a year earlier, the U.S. Labor Department said Tuesday. That’s down from 3.4% in December. But not down as much as Wall Street had wanted/expected. We should expect rates to stay where they are for a bit longer..... (CNBC) If you are one of the buyers waiting on the sidelines for the interest rates to drop - think about the cost of putting your life on hold: Staying in a home that is too small, or too large, or no longer fits your needs; missing out on building equity. There are still great deals out there, and in Manhattan we still are in a buyer's market. It doesn't look like the Real Estate market will crash, as some have predicted (or hoped?). And, as soon as interest rates drop, unless there should be an unprecedented surge in inventory, you'll have more competition and in consequence, prices might go up or will be driven up by multiple bids situations. So why not take advantage of a great deal, now, then refinance once the rates have come down? I'm looking forward to chatting about NYC real estate, or any other exciting topic, with you. Talk soon, |
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For the first time ever, Compass achieved the status as the #1 Brokerage in New York City based on closed sales volume and total transactions |
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| Younger Buyers Want Baby Boomers to Update Their Homes |
| Millennials are worried they'll inherit properties in need of major renovations and repairs, which could further hamper affordability, a new survey shows. |
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A New Generation in Opera: Masterworks Forward |
| Classic Lyric Arts presents its first performance at New York's Merkin Hall, celebrating the past, present, and future of training emerging operatic artists in France, Italy, and the US for 15 years. Kaufmann Center, Merkin Hall March 6, 7 PM |
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| Dynamic Duos is a free staged reading series that spotlights the magic that unfolds when two actors share the stage. In celebration of Urban Stages’ 40th anniversary, our spring 2024 season will be dedicated to spotlighting as many playwrights and new plays as possible. |
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| A magificent and groundbreaking exhibit featuring artists like Archibald Motley, the stunning water colors of Samuel Jospeh Brown (image), Augustaa Savage, Laura Wheeler Waring and many more. MET Museum, through July 18 |
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| Pianist and hammond-organist Tommaso Perazzo is a virtuoso who has performed all over the world and with many great cats. To experience him in the intimate space of Piano on Park promises to be a special treat! Thursday, March 14, 7:30pm |
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Women's Jazz Festival 2024 |
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| MERRILY WE ROLL ALONG on Broadway, with music and lyrics by Stephen Sondheim - directed by Maria Friedman, based on the 1934 play of the same name by George S. Kaufman and Moss Hart, will blow your mind. Both heartwarming and disturbing, it is exciting and alluring every note of the way...! |
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| Alex Laurenzi is a saxophonist, composer, and arranger from Mountain Lakes, NJ. His senior thesis, “Freedom to Freedom Now! The Expansion of Jazz’s Political Tradition During the Civil Rights Movement,” looks at the ways artists like Max Roach, Charles Mingus, Nina Simone, Abbey Lincoln, and musicians in the “avant-garde” engaged critically and musically with the politics of their moment. |
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| Explore a culinary journey of Japan without leaving NYC at this year's first outdoor Japan Fes event! If you're a foodie, you need to check out this awesome series March 23. |
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| Cool duo and great sound! |
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| Lifestyle Tips and Tricks |
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| Top 10 Hottest Housing Marketings in 2024 |
| The top 10 hottest housing markets are expected to be spread across the South, Northeast and Midwest this year, according to an analysis by real estate marketplace Zillow. But a 'hot' market isn't always great for would-be buyers... |
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Here's how to 'Tomato Girl' Your Home in Any Season |
| One of the most talked about interior design and fashion trends this year was the "Tomato Girl" aesthetic. There's a good reason for this - it's polished yet whimsical, with a touch of grand millennial mixed with a dash of quiet luxury. |
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| A Checklist for Moving to Your New Home |
| Make moving day less hectic by packing, planning, and organizing six weeks before you relocate. |
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| Kitchen + Dining Room From HGTV Dream Home 2024 |
| Beautiful blue cabinetry provides tons of storage in this open kitchen with stunning water views. A lighter aqua-colored island gives family and friends a spot to gather around in this delightful space with layers of blues... |
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| The R-Team's Featured Listings |
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| | JUST LISTED: 160 Wadsworth Avenue, Unit 505 |
| 2 BD 1 BA 731 SF $499,500 |
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| | 800 Riverside Drive, Unit 8H |
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| | 2621 Palisade Avenue, Unit 16A |
| 2 BD 2 BA 1193 SF $700,000 |
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| | | | 5 East 131st St., Unit 3A |
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| | 779 Riverside Dr,Unit A50 |
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| | | | | 1 BD 1 BA 1,000 SF $ 2,500 |
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Thanks for reading and subscribing! Ready to achieve your next real estate goal? |
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| | Lic. Real Estate Salesperson |
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Office: 212-913-9058 Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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